• PINS 10.1.2 PINS 10.1.2 Purpose of ch 10

    This Chapter imposes additional requirements on an insurer that is a member of a group to ensure that:

    (a) the insurer is capitalised adequately to protect itself against the risks arising from its membership of the group, and is otherwise protected against those risks;
    (b) it can be properly supervised by the Regulatory Authority;
    (c) it provides the authority with information about the structure and financial position of the group; and
    (d) it assesses the effect of, and notifies the authority of, certain transactions within the group.
    Amended by QFCRA RM/2013-1 and Editorial changes (as from 1st January 2015).

    • PINS 10.1.2 Guidance

      1 An insurer is exposed to risks through the relationships that it has with other insurance and non-insurance companies in its group.
      2 An insurer is also subject to reporting requirements in relation to changes in its controllers. Those requirements are set out in GENE. Under GENE, an insurer may also be required to provide reports in relation to any close links it has.
      Inserted by QFCRA RM/2013-1 (as from 1st January 2015).